Here are the world's biggest savers

Germany leads
that pack with a gross savings rate of 17%, followed closely by
Australia with 16.7%, and France with 15.1%, according
to a new KKR report

"[A] pattern of higher savings and lower wages is now preventing
developed market consumers
from consistently being the engines of global
growth that they were during the past few
decades," writes KKR's Member and
Head of Global Marco and Asset Allocation, Henry H. McVey.

Still, the biggest overall saver is still China — with a
gross savings rate of 40.7%.

China's savings rate has been significantly higher than that of
other countries for some time now because it "does not have the
same safety net as other countries,"
Alexandra Stevenson wrote in the New York Times. "Most Chinese have to save
for retirement and health care because the country's social
welfare
system needs to be developed. The Chinese also save money for
education," she adds.

Currently,
Beijing is working on implementing long-term policies in order to
transition its economy into a new, consumption-based model.
However, "getting more savers to become spenders will not be so
easy," according to Stevenson.